Welcome to our dedicated page for Veon news (Ticker: VEON), a resource for investors and traders seeking the latest updates and insights on Veon stock.
VEON Ltd (VEON) delivers mobile connectivity, digital services, and fixed-line solutions across emerging markets through brands like Beeline and Kyivstar. This page aggregates all official announcements and third-party coverage related to the company’s operations, financial performance, and strategic initiatives.
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Key coverage areas include quarterly financial results, partnership announcements, leadership updates, network expansion projects, and digital service launches. All content undergoes strict sourcing verification to ensure compliance with financial disclosure standards.
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VEON Holdings B.V. has announced the pricing of its 5-year RUB 20 billion (approximately USD 273 million) senior unsecured notes with an interest rate of 8.125%, due in 2026. This issuance marks the third Russian Rouble-denominated bond offering under its Global Medium Term Note Programme. The settlement date is set for September 16, 2021, and the proceeds will be utilized for general corporate purposes. VEON is actively monitoring the international capital markets for future offerings, depending on market conditions.
VEON Ltd. disclosed that Group CEO Kaan Terzioglu purchased 100,000 ADRs on September 8, 2021, at a market price of USD 2.15, totaling USD 215,000. Following this transaction, Terzioglu now holds 700,000 ADRs. This voluntary disclosure highlights executive confidence and alignment with shareholder interests, possibly positively influencing investor sentiment.
VEON Holdings B.V. has announced a drawdown of senior unsecured notes in Russian Roubles under its Global Medium Term Note Programme, initially established in April 2020. This marks the fourth drawdown under the programme, with a total limit set at US$6.5 billion. The proceeds from these notes will be utilized for general corporate purposes. The updated programme has been approved for listing on the Official List of the Luxembourg Stock Exchange. The Notes will not be registered under the U.S. Securities Act and are available only to qualified institutional buyers.
VEON Ltd (NASDAQ: VEON) has announced an increased investment in ShopUp, Bangladesh's top B2B commerce platform, as part of a $75 million Series B funding round, which ShopUp successfully closed. The investment allows ShopUp to enhance its infrastructure and develop new financial products for small retailers. This funding round is the largest of its kind in South Asia and brings ShopUp's total funding to over $110 million, reflecting over 13 times revenue growth in the past year. VEON's strategic involvement underscores its commitment to expanding digital services in the region.
VEON Ltd. announced the sale of its Russian mobile network towers to Service-Telecom for RUB70.65 billion (USD970 million). This transaction involves the sale of 100% of National Tower Company, which operates approximately 15,400 towers in Russia. A long-term master agreement will provide infrastructure services for PJSC VimpelCom, ensuring operational flexibility and improved mobile services. The transaction values at an EV/EBITDA multiple of 11.7x based on projected EBITDA. Closing is expected in Q4 2021, pending regulatory approvals.
VEON Ltd. announced a robust performance for 2Q21, highlighting a 9.2% revenue increase YoY and a 8.7% EBITDA growth. Local currency revenue grew 11.3% and EBITDA rose 10.7% YoY. Beeline Russia showed revenue growth of 6.2% YoY, contributing to improved financial metrics across operations in Ukraine, Kazakhstan, and Pakistan. The company also reported a total operational capex of USD 505 million and increased its revenue and EBITDA guidance for FY2021. Noteworthy digital services growth was recorded, with a total of 38 million monthly active users.
VEON (NASDAQ: VEON) announces its mobile operator Beeline's collaboration with Sechenov Medical University in Russia to utilize AI technology for medical diagnostics. The partnership aims to develop neural network algorithms for early detection of hip joint damage, kidney disease, and cancer. This technology, previously used in the 'Lisa Alert' project for locating missing persons, will now assist medical researchers in analyzing MRI images and histological sections. VEON's CEO highlights the significant role of mobile technology in improving healthcare outcomes.
VEON Ltd. announced the appointment of Michael Schulz as Group Chief People Officer, effective immediately. Previously from Puma Energy, Michael will be integral in enhancing talent management and ensuring continuity within VEON's leadership. His extensive HR experience at organizations like Petrofac and LafargeHolcim will contribute to executing VEON's growth strategy. CEO Kaan Terzioğlu emphasized the significance of human resources in achieving the company's objectives.
On July 15, 2021, VEON Ltd. (NASDAQ: VEON) announced the resignation of director Stephen Pusey, who has served on the Board since June 2020. Mr. Pusey will focus on other commitments, and the Board plans to fill his position soon. Gennady Gazin, the Chairman, expressed gratitude for Pusey's contributions. The company stated that forward-looking statements in the release involve inherent risks and uncertainties, emphasizing the ever-changing nature of the business landscape.
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